The Vitamin Shoppe Announces Positive Conclusion of FTC Inquiry into Acquisition of Super Supplements
NORTH BERGEN, N.J., Feb. 4, 2013 /PRNewswire/ -- The Vitamin Shoppe (NYSE: VSI), a leading specialty retailer and direct marketer of nutritional products, today announced that it has received notice from the United States Federal Trade Commission that it has closed its investigation into the acquisition of Super Supplements by The Vitamin Shoppe. The Vitamin Shoppe is targeting to close the transaction by February 15, 2013 assuming all remaining closing conditions are satisfied.
In December 2012, The Vitamin Shoppe announced a definitive agreement to purchase the assets of Super Supplements, Inc., a specialty retailer of vitamin, mineral and supplements (VMS), for approximately $50 million. The acquisition will be funded with available cash. Super Supplements, headquartered in Seattle, Washington, operates 31 stores in Washington, Oregon and Idaho, and expands The Vitamin Shoppe's presence in the Pacific Northwest where it currently operates 17 stores. The transaction is structured as a purchase of Super Supplements' assets by a wholly-owned subsidiary of The Vitamin Shoppe.
About the Vitamin Shoppe, Inc. (NYSE: VSI)
Vitamin Shoppe is a leading specialty retailer and direct marketer of nutritional products based in North Bergen, New Jersey. The company sells vitamins, minerals, nutritional supplements, herbs, sports nutrition formulas, homeopathic remedies, green living products, and health and beauty aids to customers located primarily in the United States. The company carries national brand products as well as exclusive products under the Vitamin Shoppe, BodyTech and True Athlete proprietary brands. The Vitamin Shoppe conducts business through more than 560 company-operated retail stores, national mail order catalogs, and website, www.VitaminShoppe.com. Follow The Vitamin Shoppe on Facebook at http://www.facebook.com/THEVITAMINSHOPPE and on Twitter at http://twitter.com/VitaminShoppe.
Forward Looking Statement
Certain statements in this press release are "forward-looking statements." Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and actual results of operations may differ materially from historical results or current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including, the risk that the operations of Super Supplements will not be integrated successfully, uncertainty as to the expected performance of Super Supplements' business once acquired by the Vitamin Shoppe, the strength of the economy, changes in the overall level of consumer spending, the performance of the Company's products within the prevailing retail environment, trade restrictions, availability of suitable store locations at appropriate terms and other factors which are described in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and in all filings with the Securities and Exchange Commission made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law.
SOURCE Vitamin Shoppe, Inc.